Laffont Sees Tough 2019 as Tech Stocks Faced `Brutal’ October (Bloomberg)
Coatue Management founder Philippe Laffont is battening down the hatches for a tough voyage ahead. After riding technology stocks to a gain of more than 24 percent in 2017, Laffont says he’s cut exposure amid rising volatility and the specter of threats to the U.S. economy and a trade war in China. His main hedge fund lost 5.8 percent in the third quarter, paring this year’s gains to about 2 percent. It has $8.7 billion in assets.
Third Point Wants Campbell to Explore a Split (The Wall Street Journal)
Third Point LLC’s initial plan to revamp Campbell Soup Co. includes exploring a breakup of the company as one of its central tenets. Daniel Loeb’s activist hedge fund is waging an uphill battle in a proxy fight to replace Campbell’s entire 12-person board. If it wins the board, Third Point believes the company should decide within 100 days whether to break up into two major units, one focused on meals and beverages and the other focused on snacks, according to a presentation released by Third Point on Tuesday detailing its…
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Founder of World’s Biggest Hedge Fund Praises ‘Greatest Man’ He Knows (MarketWatch)
Those weighty words of praise were tweeted out Tuesday by Ray Dalio, founder of hedge-fund behemoth Bridgewater Associates. Dalio’s social-media nod to the former Fed chair coincides with the release of Volcker’s memoir, “Keeping at It: The Quest for Sound Money and Good Government.” In his new book, Volcker says he’s worried about the impact of money in politics and argues that the U.S. is devolving into a plutocracy.
Exclusive: Buyout Firms Bain, CVC Compete for Papa John’s – Sources (Reuters)
(Reuters) – Bain Capital and CVC Capital Partners are among the private equity firms competing to acquire Papa John’s International Inc (PZZA.O), the world’s third-largest pizza delivery company, people familiar with the matter said on Tuesday. The buyout interest in Papa John’s comes amid a battle for control with its founder John Schnatter, who owns about 30 percent of the company. He resigned as chairman in July following reports that he had used a racial slur on a media training conference call.
Here’s What Hedge Funds Pitched at Sohn San Francisco (Bloomberg)
Marvell Technology Group Ltd., The New York Times Co. and Farfetch Ltd. were among companies pitched at the Sohn San Francisco investment conference on Monday. Here’s a rundown: Potential Targets: Marcato Capital Management founder Mick McGuire recommended CorePoint Lodging Inc. and Extended Stay America Inc., which he expected will both see price-to-earnings multiples expand. The companies are also attractive acquisition targets, he said.
Havens Advisors LLC Purchases New Position in CA, Inc. (CA) (FairFieldCurrent.com)
Havens Advisors LLC purchased a new stake in CA, Inc. (NASDAQ:CA) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 140,990 shares of the technology company’s stock, valued at approximately $6,225,000. CA makes up about 4.3% of Havens Advisors LLC’s portfolio, making the stock its 9th biggest holding.
Insider Buying: Ballantyne Strong Inc (BTN) Director Purchases 698,459 Shares of Stock (FairFieldCurrent.com)
Ballantyne Strong Inc (NYSEAMERICAN:BTN) Director Global Investors Fundamental bought 698,459 shares of Ballantyne Strong stock in a transaction dated Thursday, October 25th. The shares were purchased at an average cost of $4.16 per share, for a total transaction of $2,905,589.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission.
Insider Selling: Hershey Co (HSY) Major Shareholder Sells 47,170 Shares of Stock (WeekHerald.com)
Hershey Co (NYSE:HSY) major shareholder Hershey Trust Co Trustee In Tr sold 47,170 shares of the stock in a transaction on Monday, October 29th. The stock was sold at an average price of $106.00, for a total transaction of $5,000,020.00. Following the transaction, the insider now owns 102,330 shares in the company, valued at approximately $10,846,980. The sale was disclosed in a filing with the SEC.
Insider Selling: Garmin Ltd. (GRMN) Insider Sells 175,428 Shares of Stock (PressOracle.com)
Garmin Ltd. (NASDAQ:GRMN) insider Min H. Kao sold 175,428 shares of Garmin stock in a transaction dated Friday, October 19th. The stock was sold at an average price of $62.45, for a total value of $10,955,478.60. Following the completion of the transaction, the insider now owns 1,799,429 shares of the company’s stock, valued at approximately $112,374,341.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission.
Insider Selling: Eaton Vance Corp (NYSE:EV) CEO Sells 33,407 Shares of Stock (BaseBallDailyDigest.com)
Eaton Vance Corp (NYSE:EV) CEO Thomas E. Faust, Jr. sold 33,407 shares of the business’s stock in a transaction that occurred on Monday, October 22nd. The stock was sold at an average price of $45.50, for a total value of $1,520,018.50. The transaction was disclosed in a document filed with the SEC.
Insider Selling: Equity Residential (EQR) CEO Sells 20,000 Shares of Stock (MaconDaily.com)
Equity Residential (NYSE:EQR) CEO David J. Neithercut sold 20,000 shares of the company’s stock in a transaction dated Thursday, October 25th. The shares were sold at an average price of $66.00, for a total value of $1,320,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
